NOTES TO THE FINANCIAL STATEMENTS Definition

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NOTES TO THE FINANCIAL STATEMENTS is a detailed set of notes immediately following the financial statements contained in the annual report that expands upon and/or explains in some depth the information contained in the financial statements.

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DEPOSITS IN TRANSIT is deposits made to a bank account that have not been credited to the bank statement.

NON-EXPENDABLE PROPERTY is durable (e.g., equipment and furniture), lasting for a year or longer, and generally has a high dollar value. Non-expendable property must be accounted for throughout its useful life.

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